Business Wire

Mundipharma and Medical Developments International announce a new alliance for the commercialisation of Penthrox® in Europe

Del

Mundipharma International Corporation Limited (Mundipharma) and Medical Developments International Limited (ASX:MVP) today announced that they have entered into a License, Development and Commercialisation Agreement for Penthrox® (low dose methoxyflurane) in Europe, as a self-inhaled analgesic for the treatment of emergency pain.

Mundipharma will have exclusive product rights in 39 European markets including France, Germany, Italy and Spain, but excluding Hungary, Republic of Ireland and the United Kingdom. First country launches may begin in 2016 following registration and local pricing and reimbursement approvals.

Under the terms of the agreement, Mundipharma will pay MVP upfront and milestone payments of up to $54.5 million US dollars (USD), including:

  • USD $7 million upon signing;
  • USD $3 million upon receiving Marketing Authorisation approvals in Belgium (already received) and France (expected shortly); and
  • USD $7 million upon receiving first reimbursed sales in France, Germany, Italy and Spain;
  • The remaining USD $37.5 million on achievement of certain sales based milestones.

Additionally MVP will receive a gross margin on product sold to Mundipharma and royalties based on net sales.

The agreement brings together two companies in a strategic collaboration that leverages their individual strengths, combining Mundipharma’s extensive and sustained experience in pain management globally, as well as its strong commercial capabilities, which will complement MVP’s expertise in manufacturing and emergency medical solutions.

Commenting on the alliance, MVP CEO Mr. John Sharman said, “Mundipharma shares our vision for Penthrox® and is committed to the development of Penthrox in Europe. Moreover, Mundipharma has the reach and financial capacity to drive sales much harder and faster than we could do with our own resources. Their role extends beyond simply marketing the product, as Mundipharma will play an active role in the further development of Penthrox for existing and new clinical applications”.

Kate Hurtig, Head of Pain at Mundipharma International, added, “Mundipharma has a proud heritage in pain management and continually strives to advance new therapeutics in this space. With this alliance we are excited to expand our portfolio into the field of emergency pain relief and we look forward to quickly advancing the European development and commercialisation of Penthrox to maximise its success. We are delighted about the opportunity to work with Medical Developments International and the prospect for growth that this collaboration brings.”

-Ends-

About Penthrox ®

Penthrox® (low dose methoxyflurane) is a non-narcotic self-inhaled analgesic for the emergency relief of moderate to severe pain associated with trauma and associated pain, bridging patients from acute pain to stabilised analgesia. Penthrox® is currently registered and marketed in 10 countries around the world, including Australia, South Africa and New Zealand. Elsewhere, it has already been or is in the process of being submitted to regulatory agencies in Hong Kong, Iran, Israel, Malaysia, Mexico, Russia, Saudi Arabia, Singapore and Taiwan.

About Mundipharma

The Mundipharma network of independent associated companies consists of privately owned companies and joint ventures covering the world's pharmaceutical markets. The Mundipharma network has a presence in 51 countries with more than 7,800 employees across the world. These companies are committed to bringing to patients the benefits of pioneering treatment options in the core therapy areas of pain management, oncology, respiratory and inflammatory conditions. Through innovation, design and acquisition, the Mundipharma network of independent associated companies delivers important treatments to meet the most pressing needs of patients, healthcare professionals and health systems worldwide.

For further information please visit: www.mundipharma.com

About Medical Developments International Ltd

MVP is an Australian company listed on the Australian Stock Exchange (ASX: MVP) delivering emergency medical solutions dedicated to improving patient outcomes. MVP is a leader in emergency pain relief and respiratory products. The Company manufactures Penthrox®, a fast acting trauma and emergency pain relief product. It is used in Australian Hospitals including Emergency Departments, Australian Ambulance Services, the Australian Defence Forces, Sports Medicine and for analgesia during short surgical procedures such as Dental and Cosmetic surgery as well as in other medical applications. MVP is expanding internationally and manufactures a range of world-leading Asthma respiratory devices.

More about MVP at www.medicaldev.com

Contact information

For further information please contact:
Bily Kuo, Communications Manager
Mundipharma International
bily.kuo@mundipharma.co.uk
T: +44 (0) 1223 397 118
or
John Sharman, Chief Executive Officer
Medical Developments International Ltd
jsharman@medicaldev.com
T: +61 (3) 9547 1888
or
Rebecca Power
Weber Shandwick
E RPower@webershandwick.com
T 44 (0) 207 067 0866

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Group Vivendi Africa Deploys Netcracker OSS to Enhance Service Management as it Expands Across the Continent12.12.2017 16:07Pressemelding

Netcracker Technology announced today that its OSS suite was selected and deployed to support the long-term growth strategy of Group Vivendi Africa (GVA). GVA is a newly formed affiliate of the French-based multinational conglomerate Vivendi with the goal to deploy and operate a fiber network across Africa. Netcracker's OSS will be used as a consolidated solution to identify service availability across GVA's operating countries and then fulfill and provision those services to customers. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171212005937/en/ Netcracker's highly productized, out-of-the-box applications enabled the OSS suite to be deployed in seven months, meeting GVA's demand to leverage an integrated service fulfillment and inventory solution that could satisfy its long-term growth expectations, as well as s

Philip Morris International Releases Latest Scientific Update for Smoke-Free Products on Clinical Program12.12.2017 15:23Pressemelding

Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM) today released its latest Scientific Update for Smoke-Free Products, a regular publication on its research efforts to develop and assess a range of smoke-free alternatives to cigarettes. The latest issue of the Scientific Update can be found at this link. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171212005891/en/ Philip Morris International Releases Latest Scientific Update for Smoke-Free Products on Clinical Program (Photo: Business Wire) This issue of the Scientific Update provides a closer look at some of the principles and practices on which PMI’s scientific assessment program is built. Director Medical Affairs Dr. Patrick Picavet describes specific examples from PMI’s clinical program that highlight the company’s

Murex to Offer MX.3 Risk, Trading and Post-Trade Solutions on the AWS Cloud12.12.2017 14:00Pressemelding

Murex, an industry leader in trading, risk management and processing solutions for capital markets, announced they will run their MX.3 technology platform on Amazon Web Services, Inc. (AWS). With the acceleration of cloud adoption in capital markets, Murex and AWS agreed to collaborate to help clients migrate their Murex application workloads to the AWS Cloud. Murex clients are looking to consolidate more and more of their capital markets activity on the MX.3 platform and this means their need for infrastructure is increasing. New regulatory requirements are also driving financial organizations to use cloud to scale up their computing capacity. Murex is collaborating with AWS to meet the demand from clients to support deployment of the Murex offering on the AWS Cloud. Murex is working on the validation of a range of deployment scenarios, from using AWS Cloud for bursting grid

Darzalex®▼(daratumumab) Combination Regimen Significantly Improved Outcomes for Newly Diagnosed Multiple Myeloma Patients who are Transplant Ineligible12.12.2017 13:33Pressemelding

Janssen-Cilag International NV (“Janssen”) today announced data from the Phase 3 ALCYONE study, showing Darzalex® (daratumumab) in combination with bortezomib, melphalan and prednisone (VMP) significantly improved clinical outcomes, including reducing the risk of disease progression or death by 50 percent, in patients with newly diagnosed multiple myeloma who are ineligible for autologous stem cell transplantation (ASCT).1 These data were accepted as a late-breaking abstract (LBA) for presentation at the 59th American Society of Hematology (ASH) Annual Meeting in Atlanta, today at 7:30 a.m. ET (Abstract #LBA-4).1 Study findings were simultaneously published in the New England Journal of Medicine (NEJM) . 2 Daratumumab is currently indicated for use in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for

CTS Engines Announces Senior Management Hire12.12.2017 13:00Pressemelding

CTS Engines, the global leader for mature jet engine maintenance, announced today that it had hired Diane E. Cavuoto as Senior Vice President, Supply Chain, in an effort to continue to provide its customers with outstanding engine overhaul services. Ms. Cavuoto will be based in CTS’s Ft. Lauderdale headquarters and will report directly to Vesa Paukkeri, CTS’s President and Chief Operating Officer. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171212005050/en/ Diane E. Cavuoto, Senior Vice President, Supply Chain, for CTS Engines (Photo: Business Wire) Ms. Cavuoto, most recently Vice President, Strategic Sourcing at Honeywell International, brings years of supply chain management experience to CTS. In her prior role at Honeywell, Ms. Cavuoto managed a global commodity team of 150 employees managing $4

MIPI Alliance Opens Access to its MIPI I3C Sensor Interface Specification12.12.2017 13:00Pressemelding

The MIPI® Alliance, an international organization that develops interface specifications for mobile and mobile-influenced industries, today announced it is opening access to its sensor interface specification, MIPI I3C. Starting today, all companies, including those not currently members of MIPI Alliance, may access the MIPI I3C v1.0 specification so they may evaluate the incorporation of the specification into their sensor integration plans and design applications. “MIPI I3C provides a welcome update to the I2C technology that has been widely adopted over the past 35 years. Extending access provides an opportunity to spur innovation and help other industries beyond mobile," said Joel Huloux, chairman of MIPI Alliance. "It helps MIPI members as well, because it supports greater adoption and interoperability, strengthens the ecosystem and provides for a richer

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom